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Strategies & Market Trends : Tech Stock Options

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To: Autumn Henry who wrote (28404)	11/14/1997 8:52:00 AM
From: broken_cookie	Read Replies (1) of 58727

Hi Autumn, >>> I have asked what a bear and bull trap is to someone and they never told me....<<< That's what first really pissed me off when I started to read about TA. This book (forget which one) is discussing the "classic" head and shoulder top (Kilroy was here). It had two historical charts and pointed to the piercing of the neckline as confirmation of the pattern so short like crazy unless, however, it is the classical bear trap where it will pierce the neckline dip down a bit and then shoot up. Voila, the bear trap. How do you know which? Basically afterwards. I think these trap terms refer to a pattern that did not follow through. Looking at intraday volume on the up/down legs is another indicator and I've heard bear/bull traps described as when the volume doesn't support the price pattern. Support/resistance, trend lines, SMA's & EMA's, BB's --cool! I like those. The rally yesterday suprised me. I heard some talking head refering to it as a "obvious" short covering rally. Back when pondering physics and math texts, the scariest words were: It is intuitively obvious to the most casual of readers ..... Take care. Ice storm in NE. Favorite season is definately over :( Rich

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